Samsung leads global smartphone market, Huawei pips Apple
New Delhi, Aug 1: Chinese tech conglomerate Huawei surpassed Apple to become the second largest smartphone brand worldwide in the second quarter of 2018 as South Korean giant Samsung continued to be the global leader, two reports said on Wednesday.
Samsung had 20 per cent share, followed by Huawei at 15 per cent market share and Apple with 11 per cent as global smartphone shipments declined 2 per cent to 360 million units annually in Q2, said Hong Kong-based Counterpoint Research's "Market Monitor" service.
"Huawei had a good second quarter in 2018 as it shipped more smartphones than Apple to capture the second spot in the global smartphone rankings, after 7 years of Apple-Samsung dominance," said Tarun Pathak, Associate Director at Counterpoint Research.
Huawei with its sub-brand, Honor, is offering a broad and refreshed portfolio at affordable prices which is driving growth in the overseas market.
"Honor, which is already strong in the e-commerce segment, is now adopting a multi-channel strategy through branded stores in the southeast Asia market. We expect store counts to increase in the future," Pathak noted.
According to Singapore-based market research firm Canalys, Huawei shipped 54 million handsets, up 41 per cent year-on-year.
"Despite its failure to strike a US carrier partnership earlier this year, the company has turned around quickly, moving away from its drive for profitability and focusing instead on finding volume growth at the low end," said Mo Jia, Canalys Analyst.
"Honor, which has long been a major brand in China but relatively small overseas, has taken a pivotal role in this strategy," he added.
Samsung shipped 73 million units while Apple shipped 41 million iPhones..
"Even as Samsung smartphone shipment volumes declined globally, the brand posted a record second quarter in India, regaining its top position in Indian smartphone market," according to Counterpoint.
Samsung will launch its Galaxy Note 9 flagship soon to counter the string of premium segment launches by its competitors and to gain some momentum before the launch of new iPhone in September.
Top 10 players now capture 79 per cent of the market, thereby leaving over 600 brands to compete for the remaining 21 per cent of the market.
"Major Chinese brands like OPPO, Vivo, Huawei are now focusing on increasing their average selling prices (ASPs) by bringing in features like artificial intelligence, bezel-less displays, dual cameras and innovative industrial designs in the affordable premium segment," explained Counterpoint Research Analyst Shobhit Srivastava.
Xiaomi was on the fourth spot, capturing 9 per cent market share with shipments of 33 million smartphones globally.
OPPO and Vivo were the fifth and sixth largest brands during the quarter, capturing 8 per cent and 7 per cent market share, respectively.
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Rupee hits all-time low for second time in a week
Mumbai (PTI): The rupee depreciated 31 paise to settle at 91.99 against the US dollar on Wednesday, touching the lowest closing level for the second time in less than a week, amid increased month-end demand for the greenback.
Forex traders said the rupee opened higher as the US dollar index softened and a long-awaited trade breakthrough with Europe offered quiet reassurance. However, increased month-end demand for the American currency as well as the ongoing geopolitical tensions dented investors' sentiments.
At the interbank foreign exchange, the rupee opened at 91.60 and touched an early high of 91.50, but pared all the gains to touch an intra-day low of 91.99 against the greenback.
The domestic unit settled 31 paise down, revisiting its lowest-ever closing level of 91.99 against the greenback. The Indian currency previously ended at this level on January 23 when it also hit its all-time intraday low of 92 against the US dollar.
On Tuesday, the rupee rebounded from its all-time low levels and gained 22 paise to close at 91.68 against the US dollar.
Analysts said the rupee opened higher as the US dollar index softened and a long-awaited trade breakthrough with Europe bolstered investor sentiment.
India and the European Union on Tuesday announced the conclusion of negotiations for the free trade agreement (FTA), under which a number of domestic sectors such as apparel, chemicals and footwear will get duty-free entry into the 27-nation bloc, while the EU will get access to the Indian market at concessional duty for cars and wines, an official said.
The deal has been dubbed the "mother of all deals" as it will create a market of about 2 billion people.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.07 per cent lower at 96.14.
Brent crude, the global oil benchmark, was trading 0.43 per cent lower at USD 67.28 per barrel in futures trade.
On the domestic equity market front, Sensex jumped 487.20 points to settle at 82,344.68, while Nifty surged 167.35 points to 25,342.75.
Foreign Institutional Investors turned net buyers and purchased equities worth Rs 480.26 crore on Wednesday, according to exchange data.
